S9-6 Collecting a receivable previously written offUniversity Cycle Shop had trouble collecting its account receivable from Emmert. On19 January, University finally wrote off Emmert's $600 account receivable. University turnedthe account over to a debt collector, who hounded Emmert for the rest of the year. On31 December, Emmert sent a $600 cheque to University Cycle Shop.RequirementJournalise for University Cycle Shop:Jan 19Write-off of Emmert's account against Allowance for doubtful debtsDec 31Reinstatement of Emmert's account31Collection of cash from Emmert

In the transaction company has mentioned that it uses allowance method and accordingly the write-off…

Answered: Journalise for University Cycle Shop:

Business

Accounting

Journalise for University Cycle Shop:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

S9-6 Collecting a receivable previously written off
University Cycle Shop had trouble collecting its account receivable from Emmert. On
19 January, University finally wrote off Emmert's $600 account receivable. University turned
the account over to a debt collector, who hounded Emmert for the rest of the year. On
31 December, Emmert sent a $600 cheque to University Cycle Shop.
Requirement
Journalise for University Cycle Shop:
Jan 19
Write-off of Emmert's account against Allowance for doubtful debts
Dec 31
Reinstatement of Emmert's account
31
Collection of cash from Emmert

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